Actuarial Analyst
Mitsui Sumitomo Marine Management (U.S.A.), Inc. | Warren, New Jersey | 5/11/2017
Mitsui Sumitomo Insurance Group (MSIG) is one of the world’s top ten property/casualty insurance carriers with over 38,000 employees worldwide. MSIG insures large multinational and domestic companies, and offers comprehensive global insurance programs. Our US subsidiary, Mitsui Sumitomo Marine Management (MSMM), currently has an opportunity available for an Actuarial Analyst in our Warren, NJ office.
PURPOSE SUMMARY: Assists with quarterly updating and analysis, and provides oversight of the internal capital model.
Essential Duties and Responsibilities include the following:
- Provides Enterprise Risk Management function with risk assessment/analysis, data reporting, and assistance with financial forecasting/projections
- Assist with quarterly updating and analysis of the Towers Watson Igloo capital model
- Provides oversight of the internal model “Towers Watson Igloo” / data validation & documentation
- Prepares quarterly loss reserve reviews / analyzes underlying data / communicates with management on findings
- Provides support for IFRS standards – insurance contracts, other valuations
- Develop understanding of company’s loss reserves / paid analysis / trends
- Engage with other Financial Team members in quarterly discussions with company’s independent actuaries / review of analysis
- Maintains and prepares various analytical reports for internal and external use
- Understanding of NAIC Risk Based Capital requirements
- Perform research, experience studies, and other statistical analysis
- Creates ad-hoc reports / engages in ad-hoc projects
- Maintains documentation on ongoing processes, potential risk issues, & research
- Analyze corporate risks / capital adequacy / monitor company’s risk appetite
Supervisory Responsibilities
This job has no supervisory responsibilities.
Education and/or Experience
- Bachelor's degree (B. A.) from four-year college or university preferred
- 5-7 years P&C industry experience;
- A strong background in mathematics and statistics
- P&C industry knowledge and risk based capital computations
- Familiarity with spreadsheets, databases, statistical analysis
- Minimum of at least 2 CAS Actuarial Exams completed
Other Requirements:
- Knowledge of Towers Watson Igloo model helpful
- Good oral and written communication skills
- Proficiency with excel, word, power point, access, others
- Ability to work as part of a team and/or independently
- Self- starter with strong attention to detail
- Strong organization and time management skills
JOB OVERVIEW
Pay
Industry
Category
Career Level
Competitive salary offered plus benefits! (i.e. Medical, Dental, Vision, 401K)
Actuary
Experienced (Non-Manager)
Mitsui Sumitomo Marine Management (U.S.A.), Inc. (“MSMM”) is a United States subsidiary of MS & AD Insurance Group Holdings, Inc., one of the world’s top property/casualty insurance carriers with over 38,000 employees in more than 39 countries & regions worldwide.
MSMM manages the business affairs of three U.S. commercial property/casualty insurance companies: Mitsui Sumitomo Insurance Company of America, Mitsui Sumitomo Insurance USA Inc. and Aioi Nissay Dowa Insurance Company of America, all rated A+ (Superior) by A.M. Best Company (for the latest rating, access www.ambest.com).
MSMM specializes in providing commercial property and casualty insurance products and related services to customers throughout the U.S.
In joining MSMM, you are becoming part of a worldwide team dedicated to:
- Making a lasting contribution to the enrichment of society by bringing security and safety to people and businesses around the world through the sale and servicing of its insurance products;
- Realizing customer satisfaction by working to provide the finest products and services to consistently meet our clients’ growing needs; and
- Meeting our shareholders’ expectations and strengthening their trust in us by continuously improving our business.
We value each employee’s unique set of skills and contributions and believe that each employee plays an important role in the success of MSMM.
MSIG refers to the MS&AD Insurance Group insurers underwriting coverage: Mitsui Sumitomo Insurance Company of America, Mitsui Sumitomo Insurance USA Inc. and Aioi Nissay Dowa Insurance Company of America. MS&AD Insurance Group, 15 Independence Boulevard, Warren, P.O. Box 4602, New Jersey 07059-0602.
© MSIG Holdings (Americas), Inc. All rights reserved.